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Author: Dede108 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308643  
Subject: Credit card debt Date: 9/23/2012 6:50 PM
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The debt is not medical.I didn't 't even know about it because my spouse insists on paying all the bills and doesn't even show them to me.I am working on a plan to pay it off in the next years including working a second job.
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Author: aj485 Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 305992 of 308643
Subject: Re: Credit card debt Date: 9/23/2012 7:02 PM
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I didn't 't even know about it because my spouse insists on paying all the bills and doesn't even show them to me.

Danger! Now that you know about the debt has your spouse begun to share the information with you? If you and your spouse are not working together (sharing information being only part of working together) on paying down your debt, you are likely to end up like people in a rowboat rowing in opposite directions - going in circles.

I am working on a plan to pay it off in the next years including working a second job.

Is your spouse supportive of your plan? The first way to show support of this plan would be for both of you to STOP using credit - including, but not limited to: credit cards, lines of credit, overdraft accounts, 90 days same as cash - basically anything where you don't take the money out of your pocket/checking acount and plunk it down for your purchase right then and there). If together, you cannot stop using credit, you are going to be trying to fill in the same hole that you are also trying to dig. That's a very ineffective way to resolve your problem.

AJ

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Author: xtn Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 305995 of 308643
Subject: Re: Credit card debt Date: 9/24/2012 3:05 PM
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Yeah! Rowing a boat with shovels is lame!

xtn

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Author: alstroemeria Big gold star, 5000 posts Top Recommended Fools Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 306028 of 308643
Subject: Re: Credit card debt Date: 10/8/2012 8:15 AM
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CC debt, not medical

Is it spouse's or your debt or both, or unknown since it's on a shared account? If it's your account, you can presumably go online to view the account's history and take appropriate measures...too much spending on restaurants, electronics, furnishings, subscriptions, clothing, accessories, salons/spas or other discretionaries? That kind of spending is relatively easily cut back. Or is it too much spending on big fixed expenses like mortgage/rent and cars, leaving too little even for basics like food and utilities, therefore using CCs to keep up with a desired lifestyle? It's pretty difficult to fix a leak if you don't first find its location. While I think a second job is a great idea (I hope you're young and energetic-), please plug those money leaks, too.

Good luck!

BTW, smart people budget at every income and debt level. If I don't budget and track certain categories (my and DH's weaknesses), we can overspend, and we don't have any debt, not even a mortgage any more.

If you post details about your income, expenses, credit card debts & interest rates (that means getting info from your spouse), people on this board can help you develop a budget and repayment method that will get rid of your debt faster and help keep you from building it up again. There are many success stories here!

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